Montage Gold (TSE:MAU) Given New C$21.50 Price Target at Beacon Securities

Key Points

• Beacon Securities raised Montage Gold’s price target to C$21.50 from C$18.00 and maintained a “buy” rating, implying roughly 15% upside from the prior close.
• Analyst sentiment remains broadly positive: all 11 analysts rate the stock a Buy, with an average price target of C$16.77; recent targets from other firms range up to C$22.00.
• Montage Gold shares closed at C$18.70, near their one-year high of C$19.28, while the company reported a quarterly loss of C$0.11 per share and analysts expect a full-year loss of C$0.04 per share.

Montage Gold (TSE:MAU - Get Free Report) had its price target raised by investment analysts at Beacon Securities from C$18.00 to C$21.50 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Beacon Securities' target price indicates a potential upside of 14.97% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their target price on Montage Gold from C$16.00 to C$18.00 and gave the company a "speculative buy" rating in a research note on Friday, May 15th. Scotiabank increased their price target on Montage Gold from C$19.00 to C$20.00 and gave the stock a "sector outperform" rating in a report on Wednesday. National Bank Financial lifted their price objective on shares of Montage Gold from C$19.00 to C$20.00 in a research report on Friday, May 15th. BMO Capital Markets boosted their price objective on shares of Montage Gold from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus upped their price objective on shares of Montage Gold from C$18.00 to C$21.00 and gave the stock a "buy" rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$16.77.

Montage Gold Stock Performance

Shares of TSE MAU traded down C$0.09 during midday trading on Thursday, reaching C$18.70. 523,609 shares of the company were exchanged, compared to its average volume of 1,172,665. The company has a current ratio of 8.43, a quick ratio of 0.35 and a debt-to-equity ratio of 0.31. Montage Gold has a 1 year low of C$5.03 and a 1 year high of C$19.28. The stock has a fifty day simple moving average of C$16.25 and a 200 day simple moving average of C$14.35. The stock has a market cap of C$7.54 billion, a P/E ratio of -98.42 and a beta of 2.30.

Montage Gold (TSE:MAU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C($0.11) earnings per share (EPS) for the quarter. On average, research analysts forecast that Montage Gold will post -0.04 earnings per share for the current fiscal year.

About Montage Gold

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.

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